Qantas is confident it will return to 100% of its pre-Covid capacity in 2024

Qantas CEO Alan Joyce says he expects the airline to see a full return to pre-Covid capacity in 2024. “We’re confident that we’ll get back ... 100% of our pre-Covid international capacity, and well over 100% for our domestic capacity,” Joyce projected for financial year 2024. ″[There is] really strong demand in leisure, in business ... in corporate,” he said, adding that the pent-up demand will continue for some time. Qantas reported record half-year profits in the six months ended December 2022, but shares still closed 6.8% lower on Thursday. The flagship carrier recorded underlying profit before tax of $1.43b Australian dollars ($975.2m) in half-year ended Dec. 31. It marks a reversal from A$1.27b loss in the same period a year before. In its earnings release, the airline reported that the key drivers for the results were consistently robust travel demand, higher yields and cost improvements from the Group’s A$1b recovery program which is nearing completion. The road to 100% pre-Covid capacity will not be without turbulence, the CEO said. The biggest roadblock for Qantas is the supply chain associated with aircraft, Joyce said. “We’re getting three new 787s that come in the next few months, they are two years late,” he said. This is in addition to the time taken to reactivate their A380 fleet, which he said a lot of maintenance is needed. Every maintenance facility around the world is very full because every airline is trying to get their aircraft back up and running.”<br/>